v3.8.0.1
Stockholders’ Equity (Tables)
 9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Summary of Stock-based Compensation in Accompanying Consolidated Statements of Operations
The following table summarizes stock-based compensation in our accompanying condensed consolidated statements of operations (in thousands):
 
Three Months Ended
 
Nine Months Ended
 
September 30, 2017
 
September 24, 2016
 
September 30, 2017
 
September 24, 2016
 
 
 
 
 
 
 
 
Cost of revenue
$
117

 
$
79

 
$
314

 
$
233

Selling and marketing
287

 
232

 
828

 
646

Research and development
487

 
284

 
1,138

 
793

General and administrative
2,144

 
1,156

 
4,306

 
3,093

Loss (income) from discontinued operations
—

 
—

 
—

 
8

   Total stock-based compensation
$
3,035

 
$
1,751

 
$
6,586

 
$
4,773
Assumptions Used to Estimate Fair Value of Options Granted
The following table presents the assumptions used to estimate the fair value of options granted during the periods presented:
 
Nine Months Ended
 
September 30,
2017
 
September 24,
2016
Risk-free interest rate
1.86% - 2.18%
 
1.19 - 1.63 %
Expected term (years)
6.25
 
6.25
Volatility
32.0% - 33.4%
 
33.8% - 38.2%
Expected dividend yield
—
 
—
Summary of Stock Option and RSU Activity
A summary of stock option, RSU, PSU, and MSU activity for the nine months ended September 30, 2017 was as follows (in thousands for shares and intrinsic value):
 
 
 
 
 
 
 
 
 
Restricted Stock Units
 
Shares
 
Weighted-Average Remaining Contractual Term (Years)
 
Weighted-Average Exercise Price
 
Aggregate Intrinsic Value
 
Shares
 
Weighted-Average Grant Date Fair Value
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding as of December 31, 2016
4,312

 
6.45
 
$
6.64

 
$
13,042

 
1,780

 
$
7.08

Granted(1)
974

 
 
 
$
12.82

 
 
 
1,085

 
$
11.59

Settled (RSUs and PSUs)
—

 
 
 
—

 
 
 
(421
)
 
$
7.59

Exercised
(583
)
 
 
 
$
4.47

 
 
 
—

 
—

Canceled and forfeited
(215
)
 
 
 
$
12.72

 
 
 
(541
)
 
$
7.08

Outstanding as of September 30, 2017
4,488

 
6.69
 
$
7.97

 
$
36,960

 
1,903

 
$
9.54

Vested and exercisable as of September 30, 2017
2,769

 
5.29
 
$
6.64

 
$
26,869

 
N/A
 
N/A
____________________________
(1) For RSUs, includes time-based, performance-based, and market-based restricted stock units
Schedule of Stock by Class
As of September 30, 2017, we had reserved the following shares of common stock for future issuance in connection with the following (in thousands):
 
September 30, 2017
Options issued and outstanding
4,488

Restricted stock units issued and outstanding
1,903

Common stock available for stock-based award grants under incentive award plans
2,490

Common stock available for conversion of Series A Redeemable Convertible Preferred Stock
4,724

Total
13,605